Norwegian businessmen in Russia fear sanctions

Photo: AP Photo / Alexei Alexandrov

In the wake of Tuesday’s sanctions from the West, Norwegian business interests in Russia will meet with representatives from the Norwegian authorities on Wednesday.

“Norwegian companies are particularly concerned about the sanctions associated with banking and payment services. That is the most critical thing,” Hans-Olav Rekdal, the leader of the Norwegian-Russian Chamber of Commerce, told the newspaper Dagens Næringsliv.

The business association organizes and assists Norwegian member companies that, among other things, have business interests in Russia.

“The important thing is that the sanctions regime does not block all channels,” Rekdal warned.

Meeting planned

On Wednesday, the association will meet representatives of the Norwegian authorities and the business community.

The sanctions were imposed after the most dramatic day in the Ukraine crisis to date, after Vladimir Putin recognized two breakaway regions as independent and ordered military forces into eastern Ukraine.

The sanctions that have been announced so far are designed to affect, among others, Russian social elites and banks. The EU announced on Tuesday that member states would stop all trade with the breakaway regions Russia is sending forces into and limit Russia’s ability to raise capital in the EU’s financial markets.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayNews

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